Sam Altman, the CEO of OpenAI, has co-founded a new cryptocurrency called Worldcoin. This cryptocurrency aims to tackle income inequality through its innovative World ID feature.
Worldcoin is an innovative project that aims to offer World ID. It is a digital passport that verifies an individual’s authenticity through iris scanning. This helps to ensure that the person is human and not an AI bot. The beta version of the Worldcoin cryptocurrency project has already attracted two million users. Worldcoin plans to expand to 35 cities across 20 countries. Moreover, the early investors will be rewarded with Worldcoin cryptocurrency tokens. The initial supply of Worldcoin tokens has been capped at 10 billion.
On Monday, the price of Worldcoin went up at Binance. It started at $0.15 and went up to $2.49. Today, Worldcoin stands at a current market cap of $250 million.
In the age of generative Artificial Intelligence like ChatGPT, which produces humanlike language, WorldIDs will help to differentiate between a human and an AI bot.
“Blockchains have the potential to securely store World IDs while maintaining privacy and resisting control or shut down by any centralized authority,” said co-founder Alex Blania.
“People will be supercharged by AI, which will have massive economic implications,” said, Sam Altman, founder of Worldcoin.
Altman also shared the concept of UBI (Universal Basic Income). UBI is a social benefits program that the government runs where every entity is granted payments. Since AI can do much more work than humans, the UBI will help to fight income inequality. With only real people being able to access World IDs, it will reduce fraud when the UBI is deployed.
Altman thinks that Universal Basic Income is still a long way off in the future. He is not sure who would be responsible for distributing the money. However, Worldcoin is working towards making it possible.
He further stated, “We think that we need to start experimenting with things so we can figure out what to do.”
Worldcoin is an open-source protocol that aims to provide access to the global economy for everyone. One of its key features is that it’s designed to be decentralized. This means that the community of users will ultimately be responsible for its supervision and decision-making.
Several tools are being developed by organizations supporting Worldcoin to help it achieve its mission. These tools include:
World ID’s unique digital identity, can help to demonstrate humanness in a digital world inhabited by increasingly advanced artificial intelligence.
Worldcoin operated in three steps:
Worldcoin is believed to unlock economic potential, while also making way for a more democratic future. Let’s stay positive and welcome new ways to share wealth for everyone as technology continues to progress.
Source: Worldcoin official site